Trump Sues Truth Social Co Founders To Rob Them Of Their Shares In The Company

Donald Trump has filed a counter-lawsuit against two of the co-founders of Truth Social. The two men, who were both contestants on The Apprentice many years ago, recently sued Trump for allegedly trying to water down their shares of the company by releasing more stock. Trump is now suing the men, and the suit is attempting to strip them of ALL of their shares, which of course would give Trump more money. Ring of Fire's Farron Cousins explains what's happening.

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*This transcript was generated by a third-party transcription software company, so please excuse any typos.

Just about two weeks ago, Donald Trump was sued by two of truth social's, co-founders, Andy Lapinsky and Wes Moss. Both of them were former contestants on The Apprentice way back in the day. And after Donald Trump was booted off Twitter, following January 6th and him leaving office, they approached him and said, Hey, what if you started your own social media company? Which of course, that then became Trump Media and Technology, which owns Truth, social, and the two men were guaranteed a certain amount of the shares of the company. Recently, they sued Donald Trump arguing that Donald Trump was trying to release more shares, basically create out of thin air before it went public, a new set of shares which would exclude Litsky and Moss, which would then dilute the shares they were promised. Even though they weren't promised a number of shares, they were promised a percentage, so they should get a percentage of the new shares.

But Trump didn't want to do that. So it was announced this week that last week Donald Trump actually filed a counter suit against these two men saying, quote, Moss and Litsky failed spectacularly. At every turn, he accuses these two men of the gross mismanagement of truth, social, and is counter suing them to strip them of all of their shares of the company. So they're suing him, saying, this guy's trying to dilute our shares so he gets more money and we get less. And Donald Trump has decided, you know what f you, I'm gonna try to take away all your shares. Then how in the hell this company was even allowed, not just to go public, but to even do the merger with Digital World Acquisition. How the FEC signed off on this still blows my frigging mind. The, for lack of a better word, we'll call them shenanigans that have been taking place behind the scenes are borderline criminal.

And in fact, there's plenty of things that the FEC did say, yeah, these look criminal to us. Go ahead with your merger. That is utter insanity. Folks, you know, forget for a second that the company is tanking and the stock is gonna become worthless very soon. Like that's a good, funny, hilarious thing. But we've got regulatory agencies that were involved in this that just turned a blind eye to what they clearly saw was blatant rampant corruption. Now we've got lawsuits flying from literally every party in involved. There's three different groups and actually four different groups involved, and they're all like suing each other, alleging mismanagement, alleging, you know, they're, they're stealing, they're diluting

Our shares, all kinds of crazy crap. And the FEC saw this and still said, yeah, go ahead. We don't care. We don't give a crap. This whole thing is nothing short of insanity at this point. And I gotta tell you, Latsky Moss, y'all better hope that y'all prevail in your lawsuit and get your shares so that you can sell them immediately. Because if this thing gets held up in the court for months or even years, by the time any party prevails, all of your shares will be worthless. And all of this will have been for nothing.